I naturally thought that since I shed a tear just listening to the song, that I would cry during the music video. And I did tear up a bit, but I didn't cry.
I absolutely loved it. Lots. And lots.
But I think that Pete dying or whatever in it could mean something. Because, there have been many rumors and such (Keyword being rumor.) So, I think it could be a foreshadowing of him quitting the band. Lots of musicians do carry on with their music with a wife and kids, but who knows? And all the people on the boat at the end being happy, could mean that he wants people to just be happy that it's one member gone, and not the whole band splitting, and that it won't be the end of the world if Pete goes.
...Or it might just be a visual statement of "They say the captain goes down with the ship" XDDD